Sky is the Limit for Secular Growth in the MLP Sector: An Expert Analyst Discusses His Outlook for the MLP Space with The Wall Street Transcript

67 WALL STREET, New York - March 26, 2013 - The Wall Street Transcript has just published its Oil & Gas: Master Limited Partnerships Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

To the extent that there are willing sellers out there who will take a bid from an MLP, which is going to be pretty strong because of their very low cost of capital, we would expect both assets and corporations to continue to trade hands at a pretty healthy pace.

TWST: In terms of the different subsegments of upstream versus midstream versus downstream, do you find any to be more or less promising? Or is it more on a name-by-name analysis?

Mr. Bellamy: I think, frankly, that it's too broad to say upstream, midstream and downstream. I think you need to dive in more closely to get a good sense of performance. For example, within midstream you have mega caps like Enterprise Products (EPD), which is a fantastically well-run partnership. It's a name that everyone of any risk tolerance can and probably should own.

But also in the midstream, you have sub-billion-dollar market cap names. EPDand a small-cap name are going to perform very differently if we see enhanced volatility, so while over the long term we think that some of the best risk/reward propositions are in the small caps, tactically if we see volatility spike up, those small-cap names are going to get disproportionately hurt...

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